archive2020

  Minister of State for Petroleum Resources, Mr Timipre Sylva, says Federal Government’s earnings, from oil and non-oil sectors coupled with low revenue receipts from the Federal Inland Revenue Service (FIRS), have dropped by 60 per cent, putting the nation’s economy under serious pressure. Sylva stated this after a closed-door...

The economic repercussions of the coronavirus are expected to put Africa into its first recession in 25 years and could push 49.2 million people on the continent into extreme poverty by next year. The President, African Development Bank (AfDB), Akinwumi Adesina, who spoke during a press conference, laid out the...

The Lagos Chamber of Commerce and Industry (LCCI) has urged the Central Bank of Nigeria (CBN) to address the supply side variables impacting domestic prices. Dr Muda Yusuf, Director-General, LCCI, spoke in an interview with the News Agency of Nigeria (NAN) in reaction to the October 2020 inflation rate. The...

Transactions on the Nigerian Stock Exchange (NSE) commenced the week on Monday with a loss of 0.75 per cent amid renewed profit taking. Speficially, the market capitalisation dipped N137 billion or 0.75 per cent to close at N18.171 trillion compared with N18.308 trillion recorded on Friday. Also, the All-Share Index...

  Governance progress slowed across Africa for the first time in a decade, even before the coronavirus pandemic hit, with commitment to democracy and civil rights faltering, a major report said Monday. The Mo Ibrahim Index of African Governance, published every two years, gives each country’s government a score according...

  Althetico Madrid striker Luiz Suarez has tested positive for coronavirus, The Uruguayan Football Association announced on Monday. The former Barcelona striker contracted the virus during international duty with his country of birth. He will miss the much-awaited reunion with his former club on Saturday in La Liga....

  The Nigeria Employers’ Consultative Association (NECA) has expressed worry over the rising trend of the inflation rate in the country. According to the latest report of the Nigeria Bureau of Statistics, it further rose from 13.71 per cent in September, 2020 to 14.23 per cent in October. NECA’s Director-General,...

Lagos State Government has announced six-week partial closure of the service lane inbound Maryland from the end of Gani Fawehinmi Park to the end of the second pedestrian bridge, Ojota in continuation of the ongoing rehabilitation of the Ikorodu road. Commissioner for Transportation, Dr. Frederic Oladeinde, explained the closure is...

*VP says it's time for healing & FG will ensure justice is done * Attends Rebuild Lagos Trust Fund launch *Notes: Reconstruction painful & costly, must include rebuilding public trust *Adds: We can't alienate our youths As the work of the about 30 judicial panels of inquiry established nationwide to...

 The African Export-Import Bank (Afreximbank) says it recorded net income of 217.06 million dollars for the nine months ended Sept. 30 in spite of the impact of the COVID-19 pandemic. The bank announced this in a statement issued in Cairo, Egypt, after the release of its unaudited financial statements for...